The free daily newspaper, Metro, is no longer being published in Spain.

The Swedish owners, Metro International, which publishes the newspaper in 100 different cities spread across 21 countries, said in its press release that it 'deeply regretted the decision' to close the paper in Spain.

According to the press release, published on Metro International's webpage, the economic crisis and, in particular, the drop in advertising revenue, mean that they can no longer justify 'continuing to invest' in Spain.

The paper was launched in Spain in 2001, with editions in Madrid, Barcelona, Sevilla, Zaragoza, Alicante, Valencia and A Coruņa. The Swedish group has invested a total of 25.5 million Euros in Metro Spain.

The Valencia and Alicante editions will carry on being published as they belong to Metro News, a Valencian publishing house that has exclusive rights to Metro in the autonomous community.

Metro was the fifth most read daily newspaper, with 1.8 million readers but had 'experienced losses over the past few years' as a result of the increase in competition and the constant fall in traditional press advertising.